The public auction for the sale of tax delinquent land in Logan County will be held at the Logan County Courthouse in Paris on Thursday at 10 a.m. according to John Thurston, Arkansas Commissioner State Lands.
Registration will begin at 9:30 a.m.
The Commissioner of State Lands offers an online Catalog of Tax Delinquent Lands, which contains the current statutes governing the sales, auction dates, times, location and other pertinent information regarding parcels being offered. The catalog can be found on the Commissioner’s website at www.cosl.org, providing current information resources about each parcel.
“Bidding begins at the amount of taxes and fees that are due,” Thurston said. “Owners of delinquent parcels should remember that they have only 10 business days to redeem their property if it sells at auction.”
Delinquent property owners may call the office at 501-324-9422 to request a Petition to Redeem, or they may look up the delinquent parcel on the COSL website and print it from there.
Meanwhile, Thurston came to Paris last week to present a check to county officials. The check represented the amount of money his office is turning back to Logan County. The check was for $75,176.
The Commissioner of State Lands Office returned over $18 million to counties across Arkansas in 2016. That turnback, totaling $18,244,997.50, is produced by property owners paying delinquent real estate taxes, and from proceeds in excess of taxes due when the COSL office sells property.
“Our whole purpose in collecting delinquent real estate taxes, and in selling long-delinquent properties, is to get that funding to the counties where it is owed,” Thurston said. “When we sell properties that have been delinquent for many years, it gets them back onto the county tax rolls, producing income that helps a county with its roads, schools and emergency services.”
In the past, bidding at auctions began at the assessed value of the land. A 2013 law changed the opening bid amount to the accrued delinquent taxes and related penalties. Other statutory changes reduced the redemption and litigation periods after a property is sold.
“More people are purchasing property now, since bidding begins lower and the waiting period is shorter,” Thurston said. “Overall, we’re returning more properties to private ownership, which benefits the counties that can now collect annual taxes on those properties.”
Property is certified to the COSL Office when it is two years delinquent. Owners then have two more years to redeem the property before it goes to public auction. If a parcel sells at auction, the owner has 10 business days after the sale to redeem the property. Any parcels not sold at auction are placed on the COSL’s post-auction sales list, where the public can submit offers to purchase.
The Commissioner of State Lands offers an online Catalog of Tax Delinquent Lands, containing the current statutes governing the sales, auction dates, times, location and other pertinent information regarding parcels being offered. The catalog and schedule can be found on the Commissioner’s website at www.cosl.org, providing current information resources about each parcel.